Fri Nov 22 16:10:11 UTC 2024: **Enviro Infra Engineers IPO Opens, Seeks ₹650 Crore**

MUMBAI, November 22, 2024 – Enviro Infra Engineers, a company specializing in sewage treatment plant and sewerage system projects, launched its initial public offering (IPO) today. The IPO, which closes on November 26th, aims to raise ₹650 crore through a price band of ₹140 to ₹148 per share. The company already secured ₹195 crore from anchor investors on November 21st.

The IPO comprises a fresh issue of ₹572.46 crore and an offer for sale of ₹77.97 crore. A minimum investment of ₹14,948 (101 shares) is required. Different minimum lot sizes apply to different investor categories (NII and bNII).

Early indications are positive, with a grey market premium (GMP) of ₹38 reported this morning, suggesting a potential listing price of ₹186 and a potential gain of 25.68%. Several brokerages, including Capital Market, have given a “May Apply” rating, while Swastika Investmart Ltd recommends subscription.

The expected allotment date is November 27th, with refunds likely to begin the same day. Shares are expected to be credited to demat accounts on November 28th, and listing on the BSE and NSE is tentatively scheduled for November 29th. Prominent anchor investors include Meru Investment Fund, Abakkus Diversified Alpha Fund, and several mutual funds.

*Disclaimer: This article is for informational purposes only and does not constitute investment advice.*

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